No tax on overtime question

[Nick87]

A5,.

As to the old lady at the café?

Same problem my parents, my wife's parents and a lot of people in that generation are faced with.

They sucked (and still suck) at money management.

Got roped into believing SS was a full retirement, and didnt put money away for retirement like they should have when working earlier in life.

Most likely.

 

[BuzzH]

Not everyone works 40 hours per week year round. Some use OT to offset other time they have off. Next time your power goes out shuffle down to the lineman truck at 1 am and tell him what a dumbfuck he is for being there.. I guess.

Work your life away...perhaps you missed the IMO part.

 

[cgasner1]

As to the old lady at the café?

Same problem my parents, my wife's parents and a lot of people in that generation are faced with.

They sucked (and still suck) at money management.

Got roped into believing SS was a full retirement, and didnt put money away for retirement like they should have when working earlier in life.

The situation sucks, but we shouldn't have to work an OT, to be able to give a bigger tip to help someone out.

(as compared to generously giving as one wishes, but not feeling obligated to do so because an old person is still working, tipping excessively isn't the place to do that, IMO).

I do agree with a lot of this an if my company would let me bank it into my pto I sure would. Not all overtime is created equal if your power went out Friday afternoon would you want me to stay home and worry about fixing it on Monday when my shift starts? I chose this career and that’s part of it that came with it good or bad. I’ve missed a lot of things because I’ve put other peoples needs in front of my own. So sorry I won’t apologize for being happy about getting some tax money back

 

[Nick87]

Work your life away...perhaps you missed the IMO part.

Not planning on it.

 

[mevertsen]

I do agree with a lot of this an if my company would let me bank it into my pto I sure would. Not all overtime is created equal if your power went out Friday afternoon would you want me to stay home and worry about fixing it on Monday when my shift starts? I chose this career and that’s part of it that came with it good or bad. I’ve missed a lot of things because I’ve put other peoples needs in front of my own. So sorry I won’t apologize for being happy about getting some tax money back

Notice I said as long as another emergency didn't come up in a previous post. (I had the most screwed up schedule in my previous life, early on I worked because I was basically on salary, then that changed, and I went to pure hourly, so I Absolutely prioritized how I managed my time, and flexed a lot of call outs, the best I could.)

Agree, OT is not created equal.

Regardless, its still the same coin,

Take the comp time of you can,

Or take the OT and put it in ashort time CD (just an example), the company still has to pay it somehow.

By either you getting paid on the spot, or having to deal without you later.

As far as getting tax money back?

The thread was started because of confusion, on how that part os supposed to work regarding OT.

Bottom line is, you, I, none of us really know if we are getting back, or paying in what we're supposed to. But the cronies in the IRS make sure they and theirs are taken care of to keep a job.

Thats why im saying simplify it.

Simple tax on gross receipts, no kick backs, no returns, no refunds, no buying votes.

You or I know, right now, how much we ha w to pay in taxes, dont have to have a degree to figure it all out.

 

[Irrelevant]

IMO, an employee working OT hours should get double time and a half, twice the earned PTO/sick leave, twice the company contribution to 401's, health insurance and all benefits of a second employee.

If not that, then hire another employee because I'm not a sucker.

Idealistically, this sounds great. But that's not really how the private market works.

Someone gets sick, missed two weeks, someone else needs to do that work to meet your deadlines, you can budget some fluff, but you still have to be competitive in the market, so sometimes you just have to "eat it", that only works so many times before everyone has to go find a new job because the co just went out of business.

It's not different than doing a project around the house. Sometimes a project I think will take me a day takes me 4. It's not like I stop after one out of principle.

 

[BigHornRam]

Notice I said as long as another emergency didn't come up in a previous post. (I had the most screwed up schedule in my previous life, early on I worked because I was basically on salary, then that changed, and I went to pure hourly, so I Absolutely prioritized how I managed my time, and flexed a lot of call outs, the best I could.)

Agree, OT is not created equal.

Regardless, its still the same coin,

Take the comp time of you can,

Or take the OT and put it in ashort time CD (just an example), the company still has to pay it somehow.

By either you getting paid on the spot, or having to deal without you later.

As far as getting tax money back?

The thread was started because of confusion, on how that part os supposed to work regarding OT.

Bottom line is, you, I, none of us really know if we are getting back, or paying in what we're supposed to. But the cronies in the IRS make sure they and theirs are taken care of to keep a job.

Thats why im saying simplify it.

Simple tax on gross receipts, no kick backs, no returns, no refunds, no buying votes.

You or I know, right now, how much we ha w to pay in taxes, dont have to have a degree to figure it all out.

Taxes have been made incredibly simple for most people these days. Computer programs that walk even the least informed people through the process. E file and direct deposit now days. No waiting months for a refund. And starting this year, I now won't have to file a state tax return. Easy!

 

[mevertsen]

Taxes have been made incredibly simple for most people these days. Computer programs that walk even the least informed people through the process. E file and direct deposit now days. No waiting months for a refund. And starting this year, I now won't have to file a state tax return. Easy!

Agreed, I did mine on turbo tax several years running now.

I also had several years, where I was within $20 of 0, so that made it even easier.

The last 6 or 8 years, I've been trying to get it to where we get 0 back.

We cant keep up with all the changes and keep withholding correct.

Never have had to deal with a state income tax

 

[cgasner1]

Taxes have been made incredibly simple for most people these days. Computer programs that walk even the least informed people through the process. E file and direct deposit now days. No waiting months for a refund. And starting this year, I now won't have to file a state tax return. Easy!

It won’t be long and people will just all be using chatbot. Honestly that’s what I should probably do this year then it would just be plug and play

 

[BuzzH]

Idealistically, this sounds great. But that's not really how the private market works.

Someone gets sick, missed two weeks, someone else needs to do that work to meet your deadlines, you can budget some fluff, but you still have to be competitive in the market, so sometimes you just have to "eat it", that only works so many times before everyone has to go find a new job because the co just went out of business.

It's not different than doing a project around the house. Sometimes a project I think will take me a day takes me 4. It's not like I stop after one out of principle.

Fine, but the company needs to make it worth my time, and time and a half just isn't to me.

Their poor planning and not having enough employees is a management problem.

Emergencies are one thing, basing your management and business around ripping your employees off with time and half and working them to death is a whole other issue.

Longer shifts and longer days create all sorts of health issues, family issues, safety issues, work/life balance issues, etc.

 

[Irrelevant]

Fine, but the company needs to make it worth my time, and time and a half just isn't to me.

Their poor planning and not having enough employees is a management problem.

Emergencies are one thing, basing your management and business around ripping your employees off with time and half and working them to death is a whole other issue.

Longer shifts and longer days create all sorts of health issues, family issues, safety issues, work/life balance issues, etc.

For us, it's less confrontational between the Co and the employees, they are one and the same. You work extra because you need the project to succeed. You get paid what the company can afford to pay you for your efforts. It could be any number of forms of compensation, could be OT or it could be "comp time," but, from what I've seen, companies don't have steady work, they are constantly in a state of flux, up and down, and employees need to be able to flex up and down if you want your company to be successful. Offering people comp time makes scheduling and meeting deadlines harder for other staff. From what I've seen and experienced, it's much less about us vs them and more about getting work done. If you don't see your efforts as directly related to the performance of your company, then it's probably not a good fit for you.

 

[BuzzH]

For us, it's less confrontational between the Co and the employees, they are one and the same. You work extra because you need the project to succeed. You get paid what the company can afford to pay you for your efforts. It could be any number of forms of compensation, could be OT or it could be "comp time," but, from what I've seen, companies don't have steady work, they are constantly in a state of flux, up and down, and employees need to be able to flex up and down if you want your company to be successful. Offering people comp time makes scheduling and meeting deadlines harder for other staff. From what I've seen and experienced, it's much less about us vs them and more about getting work done. If you don't see your efforts as directly related to the performance of your company, then it's probably not a good fit for you.

All management problems...companies die from the neck up, 100% of the time.

 

[Jamen]

comparison is the thief of joy

 

[BigHornRam]

Agreed, I did mine on turbo tax several years running now.

I also had several years, where I was within $20 of 0, so that made it even easier.

The last 6 or 8 years, I've been trying to get it to where we get 0 back.

We cant keep up with all the changes and keep withholding correct.

Never have had to deal with a state income tax

Your taxes sound incredibly simple to me. How do you propose to make it any simpler?

 

[Irrelevant]

All management problems...

are solved by employees. You don't magically make work happen without someone doing it. You can't have part-time staff that are both technically proficient but also only employed "on demand". You have to keep all staff busy all the time with billable work (or as close to it as possible). You have to be competitive in a market that doesn't care about your "management problems". None of those issues are as pressing or as constaining on the public sector side. You have your own difficult issues, ones I'm glad I'll never have to work with, but to think that a solution that would work for you is a solution that works for everyone is naive.

 

[BigHornRam]

It won’t be long and people will just all be using chatbot. Honestly that’s what I should probably do this year then it would just be plug and play

Chat not going to help you out if you do get audited. The few bucks for a program is money well spent.

 

[Treeshark]

My opinion on this subject differs significantly whether the OT is mandatory (in which case I tend to agree with @BuzzH) vs voluntary.

 

[BuzzH]

are solved by employees. You don't magically make work happen without someone doing it. You can't have part-time staff that are both technically proficient but also only employed "on demand". You have to keep all staff busy all the time with billable work (or as close to it as possible). You have to be competitive in a market that doesn't care about your "management problems". None of those issues are as pressing or as constaining on the public sector side. You have your own difficult issues, ones I'm glad I'll never have to work with, but to think that a solution that would work for you is a solution that works for everyone is naive.

Stay on the hamster wheel...dont care.

 

[brymoore]

I’m salary. Technically I work 24/7 if necessary. I work extra hours when needed and under hours if I’m caught up. My salary, bonus and vacation time (~7 weeks if Federal holidays are included) are more than enough to keep me motivated.

I think some of the perks of the BBB tax cuts (OT and SS) sound better than they pencil out to be.

 

[WyoCoalMiner]

My opinion on this subject differs significantly whether the OT is mandatory (in which case I tend to agree with @BuzzH) vs voluntary.

Our employees love the built in (mandatory) OT they get. They would much rather work 12 hr shifts, 14 out of every 28 days, and get the built in OT after 40 hrs worked each week. The alternative would be 4-10 hr shifts each week and more employees. Everyone gets less.